The Era of Decentralized Applications With Blockchain
In the previous reading (On the Edge of the Crypto Bronze Age), we discussed that only a few tech companies prevailed in the DotCom Bubble. While climbing the mountain, those companies that survived the peak gained a light-speed pace during their growth period. Although the Internet is not that young (considering its foundation was in 1989, it is 33 years old), most of the pioneers in the tech industry are barely adults; Facebook is 18 yo, Twitter is 16 yo, TikTok is 5, and Google is 23. Considering the age of blockchain and the features it brings, it won’t be a surprise if it follows a similar path to the Internet.
Since the Genesis Block in 2009, Blockchain technology has brought essentials like a Consensus, No Single Point of Failure, Transparency, Authenticity, and many more. Over these features, current applications are Instant Asset/Money Transfer, Cloud Storage, Logistics, Healthcare, Data Security, Investment, etc. Several industries utilize this technology faster, whereas others are still testing the waters.
To dive more into this, let’s discuss how blockchain might disrupt cloud storage systems using a real example by emphasizing the differences between Filecoin (filecoin.io) and Dropbox (dropbox.com). Although they are not the same, they do have very similar core utility by nature.
